October 2, 2017

The Board of the Canadian Foundation for Governance Research (CFGR) is pleased to announce this year's winners of the Bertram Scholarship. The 2017 recipients are: Duff Conacher, Leanne Keddie, James Shou, and Thomas Boisvert St-Arnaud.

The Bertram Scholarships support PhD students in Canadian universities with their governance research projects. It is intended to help build Canada's research capacity by supporting the next generation of young scholars studying governance issues.

The scholarships are named after Robert Bertram, a visionary leader with a passion for finance, governance and education. Mr. Bertram had an illustrious career leading the investment arm of the Ontario Teachers' Pension Plan and is an experienced board member who has held governance roles with several prominent organizations including Cadillac Fairview and Maple Leaf Sports and Entertainment. Mr. Bertram is currently the Chair of the Board of the Canadian Foundation for Governance Research.

"We had an impressive number of high quality applications for this year's Bertram Scholarship," notes CFGR Executive Director, Matthew Fortier. "It was very difficult to narrow down the field to just four applicants. However, the winning proposals best demonstrated the potential to advance governance research in Canada in accordance with the mission of the CFGR."

Briefly, the students and research projects being supported by Bertram Scholarship in 2017 include:

Thomas Boisvert St-Arnaud, Université de Sherbrooke
Research project aims to develop general principles of anti-fragile (resilient) corporate governance design which will help build systemic and non-predictive governance.

Duff Conacher, University of Ottawa
Research project aims to develop a best-practice model system of rules and enforcement measures for ensuring officers and board members do not take part in decisions in which they have a private interest.

Leanne Keddie, Concordia University
Research project examines the use of corporate social responsibility (CSR) incentives in executive compensation packages.

James Shou, University of Alberta
Research project investigates the anomaly dubbed "the Canada discount puzzle", when Canadian listed firms' market-to-book ratios are ten percent or more below those of similarly sized US listed firms in the same industries.

More information about the 2017 Bertram Scholars and their research projects may be found on the CFGR website.

About the Canadian Foundation for Governance Research The Canadian Foundation for Governance Research (CFGR) was established by the Institute of Corporate Directors to fund leading research on governance issues. Each year the CFGR administers the Bertram Scholarships to support young scholars with their governance research projects. The CFGR also provides a forum for the students to share their work with established governance professionals and disseminates their research through the CFGR website (

Contact: Heather Wilson Secretary to the Board Canadian Foundation for Governance Research 416-593-7741,


Applications are now closed for the 2018 Bertram scholarship